Hospitality insurance for Ontario restaurants, accommodations, and tourism businesses
Hospitality businesses face risk every time they welcome a guest, serve food or alcohol, host an event, operate specialized equipment, store perishable inventory, or provide accommodation. Ontario restaurants, pubs, cafés, hotels, motels, bed and breakfasts, resorts, and tourism operators may need coverage for guest injuries, property damage, equipment breakdown, food spoilage, theft, employee dishonesty, lost income, and temporary closures.
The right insurance program depends on the type of operation, number of guests, food and beverage service, alcohol exposure, property and equipment values, seasonal activity, staffing, revenue, claims history, and how long the business could absorb an interruption. Westland helps Ontario hospitality businesses compare coverage options, understand limits and exclusions, and build protection around their guests, premises, equipment, inventory, employees, and revenue.
Why Choose Westland?
We know that your business insurance needs to match your goals, your business and your budget. Our expert business insurance advisors get to know you and your business, so that they can tailor a policy to your exact needs. We’ll work with you to build a risk management solution, ensuring coverages line up with your business needs.
Insurance can be complex sometimes. Let our expert insurance advisors do the heavy lifting! We’ll help you find a policy that you feel is the best fit and provides peace of mind. To learn more about the benefits of being a Westland client, Click here.
Hospitality Insurance Explained
Whether you’re offering an upscale dining experience with reservations months in advance or a bed and breakfast hosting guests and showcasing the beauty of your community, every hospitality business faces risks specific to the industry. To be in the hospitality industry, you inherently must be willing to take risks. With the right insurance policy in place, we can ensure your risks are worth taking while covering those that could harm your business.
From serving food and drinks to hosting guests and ensuring the safety and experience of their stay, the unexpected can happen. Things like equipment breakdown, fire damage, food spoilage, and liability can all have a major impact on your business. These specific risks are unique to the industry, and our experts can help.
At Westland, we have a comprehensive hospitality package that has everything to keep your business covered, including:
- Business Liability
Liability is the financial responsibility of your business resulting from damage that’s caused to property or bodily injury of a third party. Whether your company has four employees or 400, every business runs the risk of causing damage or injury to others. Think of it as your business’s first line of defense. To learn more about liability insurance, click here. - Business Property
Business property insurance provides business owners with protection for the most critical physical assets of their business and, in turn, peace of mind to keep their business running. The unexpected can happen, and business property coverage looks after protecting your assets if there’s a loss. To learn more about business property insurance, click here. - Business Interruption
A vital element of business insurance is the timeline between a loss occurring and greeting clients back to your business. That’s where business interruption coverage comes into play. Your business’s downtime can be covered, so the financial impact of being closed isn’t detrimental to the company you’ve worked hard to build. To learn more about business interruption insurance, click here. - Crime and Employee Dishonesty
- Money and Securities Coverage
- Boiler and Machinery
Review Your Insurance and Get a Quote with Westland
Ready to discuss your insurance needs? Our expert advisors are here to review your current insurance policies, discuss your unique risks and operations, and find the perfect insurance policy for your business. Whether it’s over email, the phone or in person we are ready to help! To get started on a quote now and see price estimates for your business coverage, click the button below. Our advisors will contact you right away and help navigate your risk management needs. Of course, we are always available to talk over the phone or in person. Check out our locations page to connect with an office closest to you!
Claims Example
Hospitality claims can range from slip and falls, to food poisoning to equipment breakdown. For example, freezers or refrigerators that breakdown resulting in suspension of operations and potential spoilage of stock. The right hospitality insurance policy will help mitigate these risks and get you back to your normal as quickly as possible.
Our goal is to find the best coverage for your business so you can focus on what’s important. To learn more about being a Westland client, click here.
10 Ontario Business Facts
- Niagara Falls is one of the largest draws to Ontario. In fact, it welcomed 12.9 million visitors in 2017 and tourism expenditures reached a whopping $2.4 billion!
- It comes as no surprise that Toronto is a big player in the film and television production sector. Often being called the Hollywood of Canada, over 25% of Hollywood movies are filmed in Toronto.
- Fishing is a beloved past time in Ontario, but it’s also an economic driver. With over 1.12 million anglers on Ontario water a year, they spend $1.6 billion a year in the province, whether at remote fishing lodges or supporting small angling businesses.
- Ontario is one of the most multicultural places in the world. It’s home to many festivals including Caribbean Carnival, Jazz Festival and Oktoberfest. In fact, there are over three thousand festivals each year.
- Ontario has a thriving agricultural sector. The province contributes to almost a quarter of all farm revenue in Canada. The top crop productions are soybeans, corn and winter wheat.
- Forestry is another large industry in Ontario, supporting over 53,000 jobs. In fact, the forests of Ontario cover a land area close to the size of Italy, Germany and the Netherlands…combined.
- Ontario is the national leader when it comes to manufacturing. Automotive, textiles, electrical goods and farm implements contribute to an industry that employs about half of Canada’s manufacturing jobs.
- The Royal Ontario Museum is the largest in Canada, and the fifth largest in all of North America. It sees a total of one million visitors a year who stop by to see many collections in over 40 galleries.
- Another driving force for the province is the food processing industry. Ontario has over 3,000 companies that make both food and beverage products. Companies include Kraft, Nestle, Kellogg’s, Coca Cola and PepsiCo.
- With over 25,000 restaurants in Ontario, it’s not surprising that some famous dishes have originated in Ontario. The Hawaiian pizza didn’t originate from the islands of Hawaii, rather at the Satellite Restaurant in Chatham!
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Protect your hospitality business before one incident disrupts service
Whether you operate a restaurant, café, pub, hotel, motel, bed and breakfast, resort, tourism business, or other guest-facing operation, Westland can help you compare Ontario hospitality insurance options for liability, property, equipment, inventory, employees, downtime, and revenue risk.
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